Mumbai ITAT delivers consolidated order on Haware Construction, addressing validity of re-opening, disallowing partial bogus purchases, and ruling on unsold flats and Section 14A expenses.
ITAT Bangalore allows Section 54F capital gains exemption for an assessee, validating oral Hiba (gift) under Mohammedan Law and overturning previous denials.
Mumbai ITAT rules joint ownership of residential property does not bar Section 54F capital gains exemption, favoring assessee in conflicting High Court views.
ITAT Ahmedabad dismisses Revenue appeals, classifying share trading income as short-term capital gains and allowing Section 54F exemption for property investment.
Explore Bombay High Court’s landmark ruling on customs jurisdiction versus international treaty obligations under ASEAN-India FTA, clarifying enforcement of domestic law over unincorporated treaty provisions
ITAT Raipur rules in favor of Asha Soni, vacating a Rs. 35 lakh unexplained cash credit. The court found that Section 68 additions cannot be made if no books of accounts are maintained.
ITAT Ahmedabad clarifies corporate guarantees as international transactions, yet upholds Adani Ports’ appeal on no arm’s length adjustment, citing no AE benefit.
Chennai ITAT rules that charitable trusts primarily offering medical relief are exempt from the 20% commercial receipt limit under Section 2(15) of the Income Tax Act.
Mumbai ITAT rules that Hardship Compensation from developers in redevelopment projects is a capital receipt, not taxable income or dividend. It reduces asset cost for future capital gains.
Chhattisgarh High Court rejects BPS Infrastructure’s review petition, affirming limited scope of review jurisdiction; original appeal dismissal upheld.
